A delegation from Kazakhstan’s Export Credit score Company (ECA) undertook a working go to to Kyrgyzstan, Uzbekistan, and Tajikistan. The enterprise group was led by Sergey Kuklin, Deputy Chairman of the ECA Administration Board.
Bishkek, Kyrgyzstan
The go to started in Kyrgyzstan, the place conferences have been held with the administration of O!Financial institution, KICB, Eldik Financial institution, and the State Insurance coverage Group. The events reviewed the 12 months’s outcomes for joint tasks and recognized key areas for cooperation aimed toward supporting the manufacturing business, stimulating demand, and increasing gross sales markets.
ECA offered its help devices tailor-made to varied entrepreneurial wants, with particular consideration given to a brand new monetary product—export operation ensures. These ensures will allow Kazakhstan’s export-oriented producers to take part in worldwide tenders and develop their presence in high-export-interest markets. Moreover, the product will facilitate entry to importer funds by offering ECA ensures as collateral for advance funds in export transactions.
Throughout the conferences, representatives of the State Insurance coverage Group of Kyrgyzstan addressed reinsurance points, emphasizing that reasonably priced reinsurance considerably improves entry to financial institution loans and helps companies overcome working capital shortages.
Sergey Kuklin highlighted that because the quantity and quantity of help enhance, so do the related dangers. Increasing cooperation with insurance coverage organizations and worldwide reinsurance corporations will assist mitigate these dangers.
Notably, in 2024, the whole insurance coverage obligations undertaken to cowl export shipments to Kyrgyzstan amounted to 1.5 billion tenge.
Tashkent, Uzbekistan
The ECA delegation continued its working go to in Uzbekistan, holding bilateral negotiations with main monetary establishments, together with Kapitalbank, Orient Finance Financial institution, Asia Alliance Financial institution, Uzpromstroybank, and InfinBank, in addition to with the retail chain Korzinka, which operates over 150 shops throughout 12 areas of Uzbekistan.
Throughout the negotiations, ECA expressed its intention to develop its consumer base and improve and diversify its merchandise to spice up Kazakhstani exports to the Uzbek market. The numerous potential for growing commerce finance between the 2 nations below ECA’s insurance coverage protection was additionally highlighted.
As a part of the conferences, a memorandum of cooperation was signed with InfinBank. In response to Sergey Kuklin, this doc will assist develop commerce tasks and stimulate demand for Kazakhstani items and companies.
“We see growing demand for domestic goods in the Uzbek market, which consequently drives export growth. The figures confirm this trend, with Uzbekistan ranking as the leading country in ECA’s export contract portfolio for the second consecutive year. Last year, thanks to our financial instruments, the volume of supported exports to Uzbekistan increased by 25%. We intend to expand cooperation with international banks, particularly in trade finance. Today’s memorandum with InfinBank will enable us to develop practical mechanisms for joint action,” he mentioned.
In 2024, ECA’s complete insurance coverage obligations for export operations to Uzbekistan amounted to 98.4 billion tenge. Assist was supplied for the export of confectionery merchandise, cattle meat, glass bottles, constructing supplies, flour, metal billets, corn starch, and extra.
Dushanbe, Tajikistan
The ultimate vacation spot of the journey was Tajikistan, the place the delegation held scheduled conferences with representatives of Amonatbank, Oriyonbank, Sanoatsodirotbank, Dushanbe Metropolis Financial institution, Freedom Financial institution Tajikistan, Tavhidbank, and ICB. Separate conferences have been additionally organized with potential importers, together with Talco (Tajik Aluminium Firm) and Capital A Group.
Tajikistan’s monetary establishments are specializing in digitalization, significantly in streamlining the appliance evaluate course of. On this regard, the ECA delegation shared its expertise with newly carried out tasks designed to boost comfort for exporters. One such initiative is the net platform ‘Exporter’s Private Account’, a totally digitalized enterprise course of masking all the pieces from software submission to contract signing. This complete strategy considerably accelerates software processing, improves effectivity, and minimizes time prices for exporters.
As a part of the conferences with Freedom Financial institution Tajikistan and ICB, two extra memorandums have been signed to ascertain a strategic partnership in insurance coverage and commerce financing for Kazakhstani exports to Tajikistan.
“The agreements signed today will enable Kazakhstani exporters to increase their sales without additional risks,” mentioned S. Kuklin.
ECA additionally emphasised its individualized strategy to every companion, contemplating the area’s particular wants for numerous services and products.
Following the conferences, the events agreed to share greatest practices in gentle of worldwide adjustments and work collectively to create favorable situations for commerce and funding improvement within the area.
Notably, in 2024, 60.4% of the export contracts supported by ECA concerned Central Asian nations, together with Kyrgyzstan, Tajikistan, and Uzbekistan.